TPI Composites, Inc. (NASDAQ:TPIC) Receives $3.16 Consensus Target Price from Brokerages

TPI Composites, Inc. (NASDAQ:TPIC - Get Free Report) has been given an average recommendation of "Hold" by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $3.16.

Several research analysts have recently commented on the company. UBS Group cut their price objective on TPI Composites from $1.60 to $1.40 and set a "neutral" rating for the company in a report on Thursday, May 29th. Jefferies Financial Group cut shares of TPI Composites from a "hold" rating to an "underperform" rating and cut their price target for the stock from $2.30 to $0.50 in a research note on Tuesday, March 18th.

Hedge Funds Weigh In On TPI Composites

Institutional investors and hedge funds have recently made changes to their positions in the business. Cerity Partners LLC purchased a new stake in TPI Composites during the fourth quarter valued at about $25,000. Two Sigma Securities LLC bought a new position in TPI Composites during the 4th quarter worth approximately $31,000. Dark Forest Capital Management LP purchased a new position in TPI Composites in the 4th quarter worth approximately $33,000. Nuveen LLC bought a new stake in TPI Composites in the first quarter valued at approximately $35,000. Finally, Alpine Global Management LLC purchased a new stake in shares of TPI Composites during the fourth quarter valued at approximately $38,000. Institutional investors own 75.24% of the company's stock.

TPI Composites Price Performance

NASDAQ:TPIC traded down $0.10 during trading hours on Friday, hitting $1.07. The stock had a trading volume of 631,795 shares, compared to its average volume of 953,952. The company has a 50 day simple moving average of $1.08 and a two-hundred day simple moving average of $1.22. The firm has a market capitalization of $52.06 million, a price-to-earnings ratio of -0.22 and a beta of 2.10. TPI Composites has a one year low of $0.64 and a one year high of $5.26.

TPI Composites (NASDAQ:TPIC - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The industrial products company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.51). The company had revenue of $332.45 million during the quarter, compared to the consensus estimate of $310.50 million. Equities research analysts anticipate that TPI Composites will post -0.9 earnings per share for the current year.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.